E5-12

The trial balance of Mendez Company the end of its fiscal year. August 31, 2017. Includes these accounts: Beginning Inventory $190,000. Purchases $154,000. Sales Revenue $190,000. Freight-In $8,000. Sales Returns and Allowances $5,000. Freight-Out $1,000 and Purchase Returns and Allowances $5,000. The ending inventory is $21,000. Prepare a cost of goods sold section (periodic system) for the year ending August 31. 2017